Package bank accounts may mislead, warns expert
www.moneynews.co.uk > General finance > Package bank accounts may mislead, warns expert
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Money News |
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Package bank accounts may mislead, warns expert
Tue 16th Mar 2010
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He added: "If you use all of the benefits in these accounts they would not turn out to be bad value. But nobody does use these extras really."
The spokesman then advised consumers to read the terms and conditions of these accounts with extra care, ensuring there would be no surprise charges.
A Financial Services Authority (FSA) financial risk outlook report for this month revealed that 15 per cent of adults had some form of package account and it was likely that increased pressure on retail banks to make a profit this year had brought about this type of product.
The FSA recently cautioned banks over the mis-selling of financial products.
Click here for more general finance news
Related News : General finance |
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